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Ivanhoe Continues Talks With Mongolia on Mining Deal

By

Elisabeth Behrmann

Updated June 18, 2009 8:03 a.m. ET

SYDNEY -- Representatives of Ivanhoe Mines Ltd.'s $3 billion Oyu Tolgoi project in Mongolia have held talks with the government there for the past two weeks to forge an investment agreement, but there is no clear timetable for progress, a person familiar with the matter said.

Resources companies have been awaiting a solid investment framework for years to mine Mongolia's copper, gold, coal and uranium riches. Talks to forge an investment deal dragged particularly after Mongolia's government in 2006 nounced it would seek a stake...